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iandekoker's 5 profit target trades

  • #61
  • Oct 25, 2007 12:45am Oct 25, 2007 12:45am
Quoting nuc
Today, on one of the long trades, the increased spread of IBFX got me at 10:00 am EST b/c of home sales news. Didn't even realize it until I saw my entry so far away from the market. So I decreased my expectations and was happy with 3 pips.

So, the main theme for unprofitable trades is news and asian session, not a particular setup on the chart, that you've found doesn't work.

Thks. Iandekoker
Nope the theory behind this strategie is to enter a trade once the trend is strong. So very few times will the market go against you in your search for 5 pips.

Too eliminate any whipsaws i trade mostly the 15mins charts. I seldom trade 5 mins charts.
  • #62
  • Oct 25, 2007 2:19am Oct 25, 2007 2:19am
here is a good trade for 5 pips
Attached Image (click to enlarge)
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  • #63
  • Oct 25, 2007 2:21am Oct 25, 2007 2:21am
and 5 pips on usd/jpy
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  • #64
  • Oct 25, 2007 6:02am Oct 25, 2007 6:02am
here is another 5 pips
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  • #65
  • Oct 25, 2007 8:30am Oct 25, 2007 8:30am
Thks for the examples today.

On the first trade, it got a little dicey, I was watching it and it did go against you initially by 17 pips and you had to wait for profit until the 2nd 15 min. bar after the signal, right?

On the second trade, the entry bar was the open of the 10:15 bar, not the 9:45 bar like on your attachment, right? At the 9:45 bar the DMI had only just hit 30.

Thanks for the feedback so far so good!
  • #66
  • Oct 25, 2007 9:35am Oct 25, 2007 9:35am
Quoting nuc
Thks for the examples today.

On the first trade, it got a little dicey, I was watching it and it did go against you initially by 17 pips and you had to wait for profit until the 2nd 15 min. bar after the signal, right?

Yes it did but the stop loss of 20 pips did not get hit. Yes again.

On the second trade, the entry bar was the open of the 10:15 bar, not the 9:45 bar like on your attachment, right? At the 9:45 bar the DMI had only just hit 30.

yes 10:15 bar or as soon as ADX rises above 35 level. I just stumbled upon a webinar where the expert recogns the 40 level is an indiction that the DMI is getting in overbought territory. So i will study it and see how DMI and price reacts once it reaches this level.

Thanks for the feedback so far so good!
Also tell me what you see once the DMI under the 15 level rises above this level and continues all the way up to the 35 level while the ADX is still above the 35 level?
  • #67
  • Oct 25, 2007 9:38am Oct 25, 2007 9:38am
here is another 5 pipper
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 19 KB
  • #68
  • Oct 25, 2007 9:40am Oct 25, 2007 9:40am
here is a long and then also a short trade

The vertical lines on the chart shows where the SMA's crossed. All you do then is wait for the ADX to rise above 35 level before you enter the trade. You enter as soon as the ADX rises above the 35 level. Look for 5 pips and get out.
Attached Image (click to enlarge)
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  • #69
  • Oct 25, 2007 9:49am Oct 25, 2007 9:49am
i just grabbed 5 pips here on the eur/usd
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  • #70
  • Oct 25, 2007 2:16pm Oct 25, 2007 2:16pm
Did great with it today, thanks again.

If I can just get it through my thick skull to take the 5 and be happy, I'll probably be filthy rich this time next year. Greed is powerful when it starts to seem easy to take money, and once a couple trades run way beyond the 5....

I did an EA. Very interesting. It does best with ADX levels at 40, t/p at 30 - 40. But it still made less than $200 from 1/1/07 to present. That's trading from 8:00 GMT to 16:00 GMT.

I can post it if anyone wants to play with it, you can run strategy tester during those boring afternoons if you want. Just don't trade it live.
  • #71
  • Oct 26, 2007 12:53am Oct 26, 2007 12:53am
Quoting blueruby
Did great with it today, thanks again.

If I can just get it through my thick skull to take the 5 and be happy, I'll probably be filthy rich this time next year. Greed is powerful when it starts to seem easy to take money, and once a couple trades run way beyond the 5....

I did an EA. Very interesting. It does best with ADX levels at 40, t/p at 30 - 40. But it still made less than $200 from 1/1/07 to present. That's trading from 8:00 GMT to 16:00 GMT.

I can post it if anyone wants to play with it, you can run strategy tester during those boring afternoons if you want. Just don't trade it live.
Lol..yes i know the feeling of wanting more than 5 pips. Especially when you close your trade after 5 pips only to see the market carry on another 10-20 pips. But this is how i see every trade: I see every trade as a potentially BIG LOOSER. So instead of ending with a losing trade I wanna close a winning trade as soon as possible. Afterall I will never make a Million dollars with only 1 trade, but i CAN make it dollar by dollar.

Yes post the EA. I would love to have a look at it
  • #72
  • Oct 26, 2007 1:08am Oct 26, 2007 1:08am
Here is a nice little Shooting star to start the day with worth 5 pips.
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  • #73
  • Oct 26, 2007 1:27am Oct 26, 2007 1:27am
here is a 5 pipper on eur/usd
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Click to Enlarge Name: gbp.gif Size: 15 KB
  • #74
  • Oct 26, 2007 3:48am Oct 26, 2007 3:48am
Good morning, at least here it is

On your most recent trade posted, it looks like you took it at the open of the bar after the SMA cross, eventhough the ADX had not crossed 35, right? Was there something else you looked for? Or is just crossing of the SMA's also good enough for trades, w/out waiting for the ADX.

Thks.
  • #75
  • Oct 26, 2007 4:35am Oct 26, 2007 4:35am
Quoting nuc
Good morning, at least here it is

On your most recent trade posted, it looks like you took it at the open of the bar after the SMA cross, eventhough the ADX had not crossed 35, right? Was there something else you looked for? Or is just crossing of the SMA's also good enough for trades, w/out waiting for the ADX.

Thks.
Nope the blue line shows where SMA crossed up. I enter once ADX was above 35 level so that would be 2 candlesticks to the right of the blue line.
  • #76
  • Oct 26, 2007 5:03am Oct 26, 2007 5:03am
Here it is. I've set the defaults to the settings most likely to produce results on the 5 minute chart, according to backtesting. Which is nowhere near the way we trade this strategy ourselves. Maybe a forward test with the 5 tp and 35 ADX level would be interesting. My computers are tied up with another test at the moment and I just do one at a time.

I need to do a little more work so that it will either only take the second arrow in a given trend, or maybe scale the lots so that the 3rd, 4th, and 5th signals get reduced lot size.

Let me know your ideas.

Rob
Attached File(s)
File Type: mq4 Iandecoker v1.1.mq4   14 KB | 298 downloads
  • #77
  • Oct 26, 2007 5:58am Oct 26, 2007 5:58am
Quoting blueruby
Here it is. I've set the defaults to the settings most likely to produce results on the 5 minute chart, according to backtesting. Which is nowhere near the way we trade this strategy ourselves. Maybe a forward test with the 5 tp and 35 ADX level would be interesting. My computers are tied up with another test at the moment and I just do one at a time.

I need to do a little more work so that it will either only take the second arrow in a given trend, or maybe scale the lots so that the 3rd, 4th, and 5th signals get reduced lot size.

Let me know your ideas.

Rob
ok let me try it out on a DEMO
  • #78
  • Oct 26, 2007 6:46am Oct 26, 2007 6:46am
here is 5 pips on gbp/usd

actually there was a lot of pips in this trade but as you know i am not greedy...lol
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  • #79
  • Oct 26, 2007 7:09am Oct 26, 2007 7:09am
Are you looking at going long the GU? Any reason not to take this signal?

edit: Never mind, I know why I shouldn't have: 1. don't go long in a downtrend, even if it's short term. 2. Price needed to get back through the 2.500 resistance.

I got lucky and got the 5.
  • #80
  • Oct 26, 2007 7:20am Oct 26, 2007 7:20am
Quoting blueruby
Are you looking at going long the GU? Any reason not to take this signal?

edit: Never mind, I know why I shouldn't have: 1. don't go long in a downtrend, even if it's short term. 2. Price needed to get back through the 2.500 resistance.

I got lucky and got the 5.
Too be honest i am ver cautious trading these high levels. Plus fridays tend to be a wacky trading day...so right now i am just watching....
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